Molson Coors Beverage (NYSE:TAP) Raised to “Buy” at StockNews.com

Molson Coors Beverage (NYSE:TAP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other equities research analysts have also recently weighed in on TAP. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. UBS Group reduced their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays lowered their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.73.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $60.33 on Thursday. The firm has a market capitalization of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $56.50 and its 200 day simple moving average is $56.31. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. As a group, analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently bought and sold shares of the business. Ritholtz Wealth Management purchased a new stake in shares of Molson Coors Beverage during the third quarter worth about $223,000. Creative Planning boosted its stake in Molson Coors Beverage by 14.7% in the 3rd quarter. Creative Planning now owns 18,890 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,418 shares during the period. Vontobel Holding Ltd. grew its holdings in Molson Coors Beverage by 16.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock valued at $7,177,000 after buying an additional 17,285 shares in the last quarter. Inlet Private Wealth LLC raised its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock valued at $2,748,000 after buying an additional 2,150 shares during the last quarter. Finally, Randolph Co Inc purchased a new position in shares of Molson Coors Beverage in the third quarter worth $21,754,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.